Report: Jehovah’s Witnesses likely to get $80M less than expected for Watchtower building
As countless recent headlines have proclaimed Brooklyn’s real estate prices to be at an all-time high, it came as a bit of a shock that the value of the Watchtower’s Brooklyn Heights headquarters may have gone down by $80 million since last year.
The New York Post reported Tuesday that according to sources, the Jehovah Witnesses’ headquarters at the foot of Columbia Heights “will end up being sold for $220 million-plus — but not the nearly $300 million it could have fetched in 2015 before the economy started rumbling.”
As the Brooklyn Eagle reported in early December, the Witnesses, who have been a staple of Brooklyn Heights since 1908, are selling their headquarters and two other properties before relocating to upstate Warwick. At that time, a source told the Eagle that the three properties could sell for a combined $1.2 billion.
